An appreciation of the exchange value of the U.S. dollar would:
a. increase the dollar prices of U.S. imports and the foreign cost of exports from the U.S
b. decrease the dollar prices of U.S. imports and the foreign cost of exports from the U.S.
c. increase the dollar prices of U.S. imports, but decrease the foreign cost of exports from the U.S.
d. decrease the dollar prices of U.S. imports, but increase the foreign cost of exports from the U.S.
d
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The term that is used to refer to a situation in which one party to an economic transaction has less information than the other party is
A) asymmetric information. B) inefficient market hypothesis. C) information disparity. D) moral hazard.
The Mincer earnings function is used to estimate
A. ability bias. B. the age-earnings profile. C. the value of the marginal product of labor. D. the social return to schooling. E. the signaling effect.